• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
SUBSCRIBE
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

IvyCap Ventures announces first close for its Fund 3 at $214 million

Balraj by Balraj
February 24, 2022
in Business, India News, Startups
0
Vikram Gupta, Founder & Managing Partner, IvyCap Ventures

Vikram Gupta, Founder & Managing Partner, IvyCap Ventures

215
SHARES
3.6k
VIEWS
TwitterWhatsappLinkedin

IvyCap Ventures, a Mumbai-based growth-stage venture capital firm, has raised $214 million (~Rs 1,608 crore) in the first close of its third fund. The company seeks a final close of Rs 2,000 crores, but depending on the market and the fund strategic plan, it may go up to Rs 2500 crores.

You might also like

BYD Reports Record Sales Amidst Flattening Growth Curve

Tesla’s Insurance Practices Under Scrutiny in Class-Action Lawsuit

Ericsson Soars, Nokia Falls: Who Will Win the 5G Race?

Vikram Gupta, Founder & Managing Partner, IvyCap Ventures
Vikram Gupta, Founder & Managing Partner, IvyCap Ventures

Two-thirds of Fund III’s capital was raised from existing investors, while new investors included institutional investors such as banks, insurance providers, and government organizations, as well as some family offices. The venture capital firm, which invests in Series A stage startups in India, seeks to continue investing in consumer internet, deep-tech, fintech, health-tech, ed-tech, and SaaS startups.

IvyCap Ventures will have an average cheque size of Rs 30 crore – Rs 40 crore as its first cheque in 20-30 Indian startups. It will also set aside about 20 percent of the corpus from Fund II for co-investment in its existing portfolio. The surplus cash will be allotted as a complement to the total portfolio.

Vikram Gupta, Founder & Managing Partner, IvyCap Ventures Advisors Pvt Ltd, said, “We have proven the model of working through the Alumni ecosystem of the IITs, IIMs, and a few other top educational institutions of India. Our passion lies in building the Endowment ecosystems in India.”

IvyCap Ventures, founded in 2011 by Vikram Gupta and later joined by Ashish Wadhwani, Vishal Gauri, and Anju Gupta, oversees a portfolio of over 30 startups. It has already successfully made exits, including a partial spinoff in HR IT startup Purplle in 2021, when its Fund 1 picked up a 22x cash return on investment.

IvyCap Ventures’ last two funds, which wrapped at Rs 240 crore and Rs 535 crore in 2014 and 2020, respectively, with investments in 10 and 23 firms. BlueStone, Bidgely, Clovia, Convosight, Elucidata, ftcash, and Purplle are some of the startups in its portfolio. Its recent exits include Leixir and Pharmarack. Fund III has recently made investments in portfolio startups Miko and Biryani By Kilo.

For global investors, the Indian startup ecosystem is a rapidly expanding opportunity. Indian startups have outpaced the total investment recorded in 2020, when venture funding totaled $33.8 billion, raising $42 billion in 2021.

The startup ecosystem in India has raised $42 billion in 1,583 funding rounds, with an average transaction size of $32 million. Meanwhile, since 2014, India has fostered more than 57K startups, who have collectively attracted over $112 billion in funding, a figure that is expanding at an exponential rate year on year. This features 85+ companies in the unicorn club and 17 startups being listed on stock exchanges.

Tags: Anju GuptaAshish WadhwaniBluestoneIvyCap VenturesPurplleSaasUnicorn ClubVikram GuptaVishal Gauri
Tweet54SendShare15
Balraj

Balraj

Balraj writes about Startup, Business, Technology related news on Techstory... For Business Enquires related to TechStory; Get in touch on: info@techstory.in...

Recommended For You

BYD Reports Record Sales Amidst Flattening Growth Curve

by Ashmita Maria
December 5, 2023
0
BYD Reports Record Sales Amidst Flattening Growth Curve

BYD, the Chinese carmaker, has recently achieved a significant milestone in the electric vehicle (EV) market. In November, the company posted record global sales of new energy vehicles...

Read more

Tesla’s Insurance Practices Under Scrutiny in Class-Action Lawsuit

by Ashmita Maria
December 5, 2023
0
Tesla’s Insurance Practices Under Scrutiny in Class-Action Lawsuit

In a recent turn of events, Tesla's insurance unit is facing a prospective class-action lawsuit over allegations of inflated insurance premiums. This development adds another layer to the...

Read more

Ericsson Soars, Nokia Falls: Who Will Win the 5G Race?

by Rounak Majumdar
December 5, 2023
0
Ericsson Soars, Nokia Falls: Who Will Win the 5G Race?

Following the Swedish telecom equipment manufacturer's $14 billion network agreement with US telecom behemoth AT&T, shares of Ericsson skyrocketed. With this multi-year arrangement, Ericsson will continue to be...

Read more
Next Post
Elon Musk: Steam Games Might Come to Tesla Infotainment System

Tesla infotainment centers to have Steam games

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Copy Protect PDF, MP3, MP4 and more, with Nexcopy USB Duplicator Systems .

Related News

How To Beat Escape from the Castle Claymount

How To Beat Escape from the Castle Claymount

December 2, 2023
How To Redeem Codes in Fortnite

How To Redeem Codes in Fortnite

December 5, 2023
Blooket

How to hack blooket

September 30, 2022
How to get Johnny Silverhand arm in ‘Cyberpunk 2077’

How to get Johnny Silverhand arm in ‘Cyberpunk 2077’

August 28, 2023
How to send a gift message on Instagram

How to send a gift message on Instagram

August 18, 2023
How to get Santa on ring doorbell

How to get Santa on ring doorbell

August 7, 2022

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at info@techstory.in

Advertise With Us

Reach out at info@techstory.in

BROWSE BY TAG

#Crypto acquisition AI amazon android Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk entrepreneurship Ethereum facebook flipkart funding Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT Russia Social Media SpaceX startup startups tech Tech news technology Tesla TikTok trending twitter uber whatsapp

© 2023 Techstory Media Pvt Ltd

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2023 Techstory Media Pvt Ltd

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?